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  • FIRST POST
    • Dandytf
    • By Dandytf 25th Feb 19, 5:52 PM
    • 2,329Posts
    • 529Thanks
    Dandytf
    Why over 50's thread.
    • #1
    • 25th Feb 19, 5:52 PM
    Why over 50's thread. 25th Feb 19 at 5:52 PM
    As I head towards 46 in a few weeks.
    Wondering why the over 50's thread is required via mse.
    In respect of, what should I or others be considering that differs from earlier years.
    E.g. As I move property 2ndtime 2009 I know that my 25 year mortgage finish line will be past 50 possibly 55 years old.
    Any pensions will be exceptionally small in. Monetary terms as mix of two full time jobs recently reducing one to part time which has massive reduced pension.
    Anything else I could be considering, and maybe I could start this year, rather than waiting until 50th.

    Edited forgot to add Equity releases could become helpful from the allowed 55 though I'de need to understand that I wouldn't leave any debt if possible and if it would be worthwhile from a small valued 1 bedroom flat.
    Last edited by Dandytf; 25-02-2019 at 8:17 PM.
    sc dmp 2012 13k Jan 2019 9880paid. 75%approx.
    Mid 2018 Help2save 50 uk pounds per month
    Mid 2019-Virgin Money e-saver reward 18 -252 Uk pounds
Page 1
    • Dandytf
    • By Dandytf 26th Feb 19, 7:32 AM
    • 2,329 Posts
    • 529 Thanks
    Dandytf
    • #2
    • 26th Feb 19, 7:32 AM
    • #2
    • 26th Feb 19, 7:32 AM
    111 views and not one description of over 50's thread advantages.
    sc dmp 2012 13k Jan 2019 9880paid. 75%approx.
    Mid 2018 Help2save 50 uk pounds per month
    Mid 2019-Virgin Money e-saver reward 18 -252 Uk pounds
    • newatc
    • By newatc 26th Feb 19, 8:05 AM
    • 471 Posts
    • 589 Thanks
    newatc
    • #3
    • 26th Feb 19, 8:05 AM
    • #3
    • 26th Feb 19, 8:05 AM
    I suppose your investment/saving perspective changes as your age. Fifty used to be a key age for some as pensions could have been payable just as 65 also used to be key age for state pensions and employment.
    I think it is true that that has been blown out of the water now and perhaps a new expression should be used but I can't think of one that doesn't sound patronising and/or insulting or PC.
    • Dandytf
    • By Dandytf 26th Feb 19, 8:12 AM
    • 2,329 Posts
    • 529 Thanks
    Dandytf
    • #4
    • 26th Feb 19, 8:12 AM
    • #4
    • 26th Feb 19, 8:12 AM
    I suppose your investment/saving perspective changes as your age. Fifty used to be a key age for some as pensions could have been payable just as 65 also used to be key age for state pensions and employment.
    I think it is true that that has been blown out of the water now and perhaps a new expression should be used but I can't think of one that doesn't sound patronising and/or insulting or PC.
    Originally posted by newatc
    I suppose I'm correct in thinking it's best to reduce as much debt as possible pre 50's.
    With my what's to become very small pension, I think any decent amount of debt could quickly become unsustainable.
    Only visiting this thread to avoid leaving useful decisions to last minute over next few years.
    sc dmp 2012 13k Jan 2019 9880paid. 75%approx.
    Mid 2018 Help2save 50 uk pounds per month
    Mid 2019-Virgin Money e-saver reward 18 -252 Uk pounds
    • Farway
    • By Farway 26th Feb 19, 1:19 PM
    • 7,654 Posts
    • 15,219 Thanks
    Farway
    • #5
    • 26th Feb 19, 1:19 PM
    • #5
    • 26th Feb 19, 1:19 PM
    Correct me if I have it wrong, but it started as "Over 60s" because there were various discounts, clubs etc, like B & Q, that all kicked in at 60

    However the name was changed because some objected to 60 being the limit and thought 50 was the new 60

    Apart from this bit of background I've nothing else to add
    • agrinnall
    • By agrinnall 26th Feb 19, 2:25 PM
    • 22,820 Posts
    • 18,841 Thanks
    agrinnall
    • #6
    • 26th Feb 19, 2:25 PM
    • #6
    • 26th Feb 19, 2:25 PM
    If you're not interested in it then don't read it. I turned 60 recently and have been keeping my eye on this board for a couple of years now, I occasionally add to a thread but rarely find anything that is of great interest, although I live in hope!
    • Clowance
    • By Clowance 27th Feb 19, 6:25 AM
    • 1,671 Posts
    • 1,164 Thanks
    Clowance
    • #7
    • 27th Feb 19, 6:25 AM
    • #7
    • 27th Feb 19, 6:25 AM
    I would say that maybe 50 is the age when the majority of people start thinking about their finances in retirement in the next decade or more and what they should be doing towards that, and read the board to see what other people are doing. Sadly most of us have to wait for the state pension to kick in even with small employer pensions.
    Don't forget quidco/topcashback - I do!
    • duncanthedog
    • By duncanthedog 27th Feb 19, 7:44 AM
    • 689 Posts
    • 1,555 Thanks
    duncanthedog
    • #8
    • 27th Feb 19, 7:44 AM
    • #8
    • 27th Feb 19, 7:44 AM
    Not wanting to sound pedantic but the OP ask why over 50s thread when it should be over 50s board or forum, perhaps that is why so few responses


    My owner/dad retired from work at 55 taking a small income from his private pension, it took work from an FA to make it happen the way he wanted it to but in spite of a total fund less than 100,000 he has the income he needs to cover all his monthly bills and a little left over to spend on me, on top of that, the FA has made good on his promise that the fund 'should' grow at least as fast as the income withdrawn reduces it and after the first years losses due to various charges, the fund has grown more than has been withdrawn every year since.


    Perhaps this is the kind of info the OP was looking for on this board/forum to go along with the various other tips about OAP discounts, I know my dad hardly visits this part of the forum but does check in now and then (like today) just to see what's available for his age bracket.
    • Browntoa
    • By Browntoa 27th Feb 19, 7:57 AM
    • 35,629 Posts
    • 41,773 Thanks
    Browntoa
    • #9
    • 27th Feb 19, 7:57 AM
    • #9
    • 27th Feb 19, 7:57 AM
    Very few people retire in their 40's but many more are able to in their 50's

    It's a shared pool of knowledge for people in that age group and upward , ways to fill time , downsizing , LPA , wills , equity release , loss of a partner etc.

    Yes these could be covered elsewhere but many people who visit this part of the forum have past experience and pass it on , a single thread here could cover multiple areas as one question leads to another.

    The actual name of this board is really just a pointer to the sort of content .

    Some people prefer to ask questions here rather in the dedicated savings, investment , benefits and will and probate boards.
    Last edited by Browntoa; 27-02-2019 at 2:04 PM.
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's , Boost your income and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • badmemory
    • By badmemory 27th Feb 19, 2:50 PM
    • 2,687 Posts
    • 4,286 Thanks
    badmemory
    No longer child-centric or mortgage-centric, neither of which exactly roll off the tongue. Looking for FIRE? Newbies wouldn't know what we were talking about! Sorry I think we are stuck with the current name! After all I think we all get the idea of what it is about from the name it already has.
    • pollypenny
    • By pollypenny 28th Feb 19, 7:24 AM
    • 26,714 Posts
    • 70,359 Thanks
    pollypenny
    Correct me if I have it wrong, but it started as "Over 60s" because there were various discounts, clubs etc, like B & Q, that all kicked in at 60

    However the name was changed because some objected to 60 being the limit and thought 50 was the new 60

    Apart from this bit of background I've nothing else to add
    Originally posted by Farway

    I think it was called 'Silver surfers' originally.

    I only discovered MSE when I retired, anyway. I remembered reading his column in the Observer.
    Member #14 of SKI-ers club

    Words, words, they're all we have to go by!.

    (Pity they are mangled by this autocorrect!)
    • crv1963
    • By crv1963 2nd Mar 19, 12:17 PM
    • 993 Posts
    • 2,259 Thanks
    crv1963
    111 views and not one description of over 50's thread advantages.
    Originally posted by Dandytf
    I think it is just a pointer to the type of topics being discussed that don't have a niche elsewhere on the boards. I also don't think that it is a title meant to exclude those under 50. For me it is a source of information and information sharing with some helpful comments.
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
    • Dandytf
    • By Dandytf 2nd Mar 19, 8:49 PM
    • 2,329 Posts
    • 529 Thanks
    Dandytf
    What I'm trying to do is think ahead with <5 years to reach 50.
    Some useful comments already such as' Most have to wait until state pension kicks in'
    With my small pensions across two jobs, I've no doubt I'll need the state pension.
    There's; always been a few verbal suggestions not via these forums that maybe I should consider using any equity from my 1 bedroom flat -though that as I understand would be from 55+ (when I hope to have mortgage paid)
    Thanks mser's -nice tip that I didn't use 'Board' in my original post heading -oops no offence intended. A few positive comments as well, let's me know I can continue to view these boards and hopefully gain some.later years knowledge..
    sc dmp 2012 13k Jan 2019 9880paid. 75%approx.
    Mid 2018 Help2save 50 uk pounds per month
    Mid 2019-Virgin Money e-saver reward 18 -252 Uk pounds
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